Cryptocurrency stocks were also falling amid a broader stock market rout, with technology shares bearing the brunt of the recent downtrend. The tech-heavy equity index Nasdaq has fallen 5% this week and was down 1% on Friday. The index fell through some key technical support levels, including the 200-day moving average, for the first time since April 2020, Craig Erlam, senior … [Read more...] about Crypto-Exposed Stocks Sink Amid Bitcoin’s Decline, Broader Market Rout
El Salvadaor bought 410 bitcoin for $15 million Friday, the country’s President Nayib Bukele said on Twitter.“Some guys are selling really cheap,” he added in his tweet. It is difficult to verify such claims on the public blockchain, since a buyer of a block of BTC that size would almost certainly have to buy it in smaller chunks to avoid slippage.Bitcoin was down about 12% … [Read more...] about El Salvador Purchases 410 More Bitcoins Amid Market Drop, President Bukele Says
Despite significant growth in recent years, the Lightning Network still faces challenges to overcome if it wants to solve bitcoin’s scalability issues. The most demanding issue is security. Because nodes on the Lightning Network are required to always be online, they become more vulnerable to attacks. And while the network aims to reduce fees incurred from processing … [Read more...] about What is Bitcoin’s Lightning Network?
"Copper may be a good example of the low potential for a commodity supercycle, notably versus an advancing bitcoin," McGlone wrote. "It's not that profound to expect one of the best-performing assets of the past decade to keep outpacing the old-guard industrial metal, and we see bitcoin's upper hand gaining endurance, and maturity, versus copper." Source link … [Read more...] about There’s a Reason Bitcoin’s Worth 500 Barrels of Oil: Bloomberg’s McGlone
After a rocky start to the year, bitcoin (BTC) appears to have stabilized this week, and some analysts are predicting that prices could be set to rise.Bitcoin has added 1% since Sunday after dropping almost 12% in the first week of 2022. Compared with the first week of 2021, when bitcoin gained 15% and traded above $50,000, this week's move looks small, but experts say the … [Read more...] about After Bitcoin’s Weak Start to the Year, Analysts Now Predict Price Increase